-$0.92 Earnings Per Share Expected for Zymeworks Inc. (NYSE:ZYME) This Quarter

Analysts forecast that Zymeworks Inc. (NYSE:ZYME) will report ($0.92) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Zymeworks’ earnings. The lowest EPS estimate is ($1.06) and the highest is ($0.76). Zymeworks posted earnings per share of ($0.70) in the same quarter last year, which indicates a negative year over year growth rate of 31.4%. The firm is expected to report its next quarterly earnings report on Tuesday, November 3rd.

According to Zacks, analysts expect that Zymeworks will report full-year earnings of ($3.35) per share for the current year, with EPS estimates ranging from ($3.52) to ($3.01). For the next fiscal year, analysts anticipate that the business will report earnings of ($4.21) per share, with EPS estimates ranging from ($4.60) to ($3.78). Zacks’ earnings per share averages are an average based on a survey of research firms that follow Zymeworks.

Zymeworks (NYSE:ZYME) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.77) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.86) by $0.09. The company had revenue of $12.36 million during the quarter, compared to the consensus estimate of $8.54 million. Zymeworks had a negative return on equity of 44.06% and a negative net margin of 569.13%.

ZYME has been the subject of several research reports. Raymond James set a $60.00 price objective on Zymeworks and gave the company a “strong-buy” rating in a report on Thursday, August 6th. HC Wainwright reduced their price objective on Zymeworks from $60.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, July 9th. JPMorgan Chase & Co. initiated coverage on Zymeworks in a report on Tuesday, September 29th. They set a “neutral” rating for the company. SVB Leerink initiated coverage on Zymeworks in a report on Thursday, August 6th. They set an “outperform” rating and a $45.00 price objective for the company. Finally, Guggenheim reduced their price objective on Zymeworks from $54.00 to $48.00 in a report on Tuesday, July 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $52.75.

In related news, insider Diana Hausman sold 40,000 shares of Zymeworks stock in a transaction on Monday, September 14th. The stock was sold at an average price of $45.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the insider now owns 13,718 shares of the company’s stock, valued at $617,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Trust N.A. purchased a new stake in Zymeworks during the third quarter valued at about $387,000. Taylor Wealth Management Partners raised its position in Zymeworks by 0.3% during the third quarter. Taylor Wealth Management Partners now owns 68,851 shares of the company’s stock valued at $3,207,000 after purchasing an additional 226 shares in the last quarter. Two Sigma Advisers LP raised its position in Zymeworks by 12.7% during the second quarter. Two Sigma Advisers LP now owns 534,300 shares of the company’s stock valued at $19,272,000 after purchasing an additional 60,100 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Zymeworks during the second quarter valued at about $223,000. Finally, Great West Life Assurance Co. Can purchased a new stake in Zymeworks during the second quarter valued at about $90,000. Institutional investors and hedge funds own 75.11% of the company’s stock.

Shares of ZYME traded up $0.93 on Friday, reaching $45.96. 212,759 shares of the company’s stock traded hands, compared to its average volume of 449,236. The stock has a market cap of $2.10 billion, a PE ratio of -12.19 and a beta of 0.99. The stock’s 50 day simple moving average is $40.42 and its two-hundred day simple moving average is $36.22. Zymeworks has a 52-week low of $20.33 and a 52-week high of $52.75.

About Zymeworks

Zymeworks Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of bio-therapeutics for the treatment of cancer. The company's lead product candidates include ZW25, a bispecific antibody that is in Phase I and Phase II clinical trials for the treatment of biliary tract, gastroesophageal adenocarcinomas, breast, and other tumors; and ZW49, a bispecific antibody-drug conjugate that is in Phase I clinical trial for the treatment of advanced or metastatic HER2-expressing cancers.

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Earnings History and Estimates for Zymeworks (NYSE:ZYME)

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